1215 S Fairfax Avenue
Los Angeles, CA 90019
- – beds
- – baths
- – sqft
- 8,255 sqft lot
- 1950 build
- – on site
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SELLER FINANCING AVAILABLE!!! Yes, the seller will carry the debt at 4% interest only with $1.2M down on this asset for three years. Very rare to find an asset like this in Carthay, the most desired pocket of Los Angeles. You will not find a better price/unit or price/sf in the area. Due to location, this is a perfect asset to TIC and sell off as individual TIC homes with a total sales price of $7,200,000. You cannot find a better deal than this. To learn more please see exit TIC SALE proforma on page 14 of the OM. 1215 S Fairfax Ave is a 12 unit trophy asset located in an A+ area. The subject property is priced at only $233k/unit and has over 100% upside in rents. Once rented for market, 1215 S Fairfax will operate at a 10.44% CAP and 7.44 GRM. This is the ideal opportunity for any value-add investor looking for major upside in a top-tier location. 1215 S Fairfax is comprised of (10) 1Bed+1Bath and (2) Studio+1Bath units. Due to its location, the subject property demands high rents, beneficial to any new buyer. There are (4) 2 car garages located in the rear alley way, as well as plenty of street and permitted parking. There is also a shared laundry room on site. Located just minutes away from many shops, restaurants and other entertainment- this is a renter's dream! With a 91 walk score, this property is considered a walker's paradise,
Last checked:
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Last updated Oct 2, 2023
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MLS# SB23064576 —
The Building
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Year Built:1950
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Year Built Source:Assessor
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New Construction:No
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Entry Level:1
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Common Walls:2+ Common Walls
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Building Area Total:8578.00
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Building Area Units:Square Feet
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# of Buildings:1
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Total Number Of Units:12
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Stories Total:2
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# of Separate Gas Meters:12
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# of Separate Water Meters:1
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# of Separate Electric Meters:12
Interior
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Entry Location:Front
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Laundry:Common Area
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Laundry:1
Location
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Directions:On Fairfax Ave, Off Pico Blvd
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Latitude:34.05300700
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Longitude:-118.36653900
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Zoning:LAR3
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Lot Features:0-1 Unit/Acre
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Lot Size Area:8255.0000
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Lot Size Acres:0.1895
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Lot Size SqFt:8255.00
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Lot Size Source:Assessor
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Census Tract:2168.00
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Tax Tract:7603
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Tax Lot:67
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5086003003
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Showings Begin:2023-04-25
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Senior Community:No
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Features:Biking, Curbs, Dog Park, Golf, Hiking, Park, Urban
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Pool:None
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Private Pool:No
Parking
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Parking Spaces:8.00
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Garage Spaces:8.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
10/2/23
Oct 2, 2023
|
Sold | CRMLS_CA | $2,700,000 | -3.6% |
|
8/8/23
Aug 8, 2023
|
Price Changed | CRMLS_CA | $2,800,000 | -7.4% |
|
6/27/23
Jun 27, 2023
|
Price Changed | CRMLS_CA | $3,025,000 | 1.7% |
